As a business owner, you’re liable for the unintentional accidents or injuries in which you or your employees are involved. Such liabilities can result in severe financial loss, but business liability insurance can help businesses mitigate potentially devastating lawsuits by covering the associated cost of legal defense and damages you are obligated to pay up to the policy limits. Contact a B.W. Baker commercial lines specialist to learn more about the benefits of business liability insurance.
Generally speaking, business liability insurance provides automatic coverage for premises and operations, products and complete operations, and employment practices liability, as these elements are most susceptible to unpredictable lawsuits.
Premises and operations coverage provides protection against accidents and injuries that result from daily operations, such as a customer falling in your store. With business liability insurance, you’ll be covered for any resulting expenses and lawsuits.
Products and completed operations coverage makes sure that your business is safe from potentially devastating lawsuits that result from previously sold products or operations. In the event that such a situation occurs, business liability insurance will handle the defense costs and legal damages for which you are responsible.
Employment practices liability protects your assets from expensive lawsuits related to wrongful termination, harassment, discrimination, and other employment-related offenses. This becomes especially important if you own a sole proprietorship or partnership, as without business liability insurance, you risk losing your personal assets if your business income cannot cover the entire cost of a claim or lawsuit. Also included in our business insurance offerings are directors and officers insurance and professional liability insurance.
At B.W. Baker, our commercial lines specialists know everything there is about business insurance, and we can help you find the best package for the needs and budget of your business. For more information or to obtain a free business insurance quote, contact a B.W. Baker insurance specialist today.
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